Barnes & Noble Attempts to Resurrect the Nook With New Color Version This Year

Barnes and Noble CEO Michael Huseby plans to launch a new Nook color device this year.

Huseby stated that the new goal for the Nook will be to sell more e-books, rather than compete with Apple's iPad or Amazon's Kindle. This new focus will "reverse the content sales decline," according to B&N's quarterly financial report (aka: sell books, and not worry about the rest.)

Most of the Nook team were fired and were replaced by "several world-class hardware partners related to device development as well as content packaging and distribution."

"As part of the Company’s ongoing efforts to rationalize the NOOK business and position it for future success and value creation, staffing levels in certain areas of the organization have changed, leading to certain job eliminations after the quarter ended," according to the report. "These ongoing efforts may involve additional actions."

It's still unsure that these changes will lead to the success of the new Nook but Huseby has little room for failure since previous CEO William Lynchresigned in July after failing at the same task. Only time will tell if these new experts can save the Nook from going extinct.